Assertion Supported AI assessment confidence: 95% certainty 4/5 debate potential 2/5

Most UHNW investors cannot name three alternative asset providers

Michael Sidgmore · Michael Sidgmore – Alternatives Go Mainstream (Private Wealth 1, EP.443) · May 5, 2025 · at 40:05

Michael Sidgmore highlights the lack of brand recognition for specialized alternative managers among high-net-worth investors.

0:00 / 0:25exact quote · 25.2s

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“I'll call out a Bain survey from twenty-twenty-two. Bain and company asked 418 ultra high net worth individuals. Name three firms that come to mind when you think of alternative assets and who are the providers. First answer, the biggest answer in the bubble chart was, I don't know. The next three, Schwab, Fidelity, and BlackRock, which in 2022, Schwab and Fidelity were not doing private markets.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

A 2022 Bain & Company survey of 418 ultra-high-net-worth individuals found that when asked to name three alternative asset providers, the most common answer was 'I don't know,' followed by Schwab, Fidelity, and BlackRock.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

Every element of Michael Sidgmore's claim is corroborated by primary survey data published in Bain & Company's Global Private Equity Report 2023. In December 2022, Bain surveyed 418 high-net-worth individuals (n=418), asking them to list up to three firms they were familiar with that provide investments into alternative assets. As reflected in Figure 6 of the report, the single most common response was 'I don't know', followed by traditional financial institutions and brokerage firms including Charles Schwab, Fidelity, and BlackRock.

Bain & Company's HNWI Survey from December 2022 surveyed exactly 418 wealthy individuals (n=418) regarding alternative investment providers.
Bain's Global Private Equity Report 2023 (published February 27, 2023) confirmed that 'I don't know' was the top response when respondents were asked to list up to three alternative asset providers, followed by traditional managers including Charles Schwab, Fidelity, BlackRock, and Vanguard.
Industry coverage by Private Equity International in February and March 2023 confirmed these exact findings from Bain's 418-person survey.

Checked against

[1] scribd.com [2] scribd.com [3] privateequityinternational.com [4] bain.com [5] scribd.com [6] bain.com [7] privateequityinternational.com

"Why Private Equity Is Targeting Individual Investors" Bain "I don't know" "Figure 6" "A survey of wealthy individuals shows that most private capital firms float below the radar" "Global Private Equity Report" "418" "Fidelity" "Vanguard" OR "Schwab" OR "BlackRock" "Bain" "418" "alternative" "Schwab" OR "Fidelity" OR "BlackRock" OR "don't know" "Why Private Equity Is Targeting Individual Investors" Bain "418" OR "Fidelity"

assessed as of 2026-09-02

This assessment is an AI reading of a public statement, made against the cited references with the confidence shown. It can be wrong. The quote, the tape and the references are all on this page; if something is off, use report an error below. full disclaimer →

Mentioned

Bain & Company BlackRock Fidelity Investments Schwab

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Most UHNW investors cannot name three alternative asset providers

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